One of the most common questions that people have, when they are interested in selling online, is where they should set up shop to sell their items. While there are several other online platforms to choose from, most people debate whether to pick Etsy or eBay for their work-at-home business of reselling.
eBay is very well known for the array of unique and rare to popular items for sale on their site. If someone is looking for a deal, they are most likely going to check eBay for the item in question first.
On the other side of the ring, there is another favorable haven for sellers: Etsy. Etsy isn’t just a spot for crafters to sell their handmade items. There are plenty of Etsy shops booming in the vintage or craft supplies businesses as well.
Here are three things to consider when choosing where to sell your items:
1. What to Sell
The first decision is what you want to sell. Most people “test the waters” with selling items that they no longer use or need from around their home. If all goes well, you’ll run out of items and need to consider what you think you could make a profit on by reselling.
Just remember, not everything can be sold on Etsy. Only handmade items, crafting supplies, or vintage (20+ years or older) can be listed on their website. You can sell anything from a dirty sock to a mansion on eBay.
The most prominent concerns that most people have is how much it will cost to start selling their items. eBay fees can be a little tricky to predict because several factors will affect your profit.
To put it simply, eBay has more fees than Etsy. eBay typically charges an insertion fee, plus a final value fee, and they also take a cut on what you charge for shipping. So, when you sell on eBay, it’s critical for you to remember to list your items in a way that will make it worth your time. Otherwise, you could end up selling a lot of things but actually lose money.
You also have the option of opening a store on eBay. There are numerous benefits to opening a store, which include a certain number of free listings per month. However, there is a flat fee for opening a store, which is typically the deal breaker for people who are still on the fence about eBay.
Etsy is much more black and white with their seller's fees:
- No membership fees, which mean you pay nothing to open a store on Etsy.
- Every listing that you post will cost $0.20. It will stay active for four whole months, or until the item sells!
- Once your item sells, Etsy will collect 3.5% of the sale price.
3. Highest Sale Price
As a seller on both Etsy and eBay, I struggle with this one at least once a week. If I can’t find an item anywhere online that has recently sold, I usually get excited. To me, that indicates that the item could be rare, or of potential value. On the other hand, it could also mean that nobody wants the item that I have already envisioned as my retirement fund.
The positive side of selling on eBay is that they still offer an auction-style place for bidders. Or, you may be familiar with the “Buy It Now” way of purchasing through eBay, which is good for people who are looking to make a quick sale.
However, if you have the patience and guts to try an auction-style listing, you could rake in the big bucks if you get people battling each other in a “bidding war.” A bidding war refers to 2 or more buyers actively interested in the same item, with the potential of paying far more than anyone had expected. It happens, and when it does, it’s like hitting the jackpot for sellers.